8+ Personal Loan Agreement Forms in WORD | PDF

Loan Agreements are very important contracts because they establish terms and conditions between a lender and a borrower. The type of Loan Agreement can vary depending on the type of loan being made and the negotiations that transpired between the company or individual lending the money and the individual who is making the loan.

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Covenants, terms of interest, length of time for repayment, and the collateral involved are what typically constitute a Loan Agreement. The Agreement Forms we provide, such as Personal Agreement Forms, Loan Agreement Forms, and Personal Loan Agreements, can help you construct the perfect Agreement Form that you need for a specific use minus the hassle. Our forms can be easily accessed and are readily available for printing or downloading.

Individual Money Loan Agreement Form

Personal Loan Agreement Form in PDF

Loaning money is a huge financial commitment and should not be taken lightly. Having a written Loan Agreement serves as tangible proof that proves to show that the money given was borrowed and was not a gift. Loan Agreements also enable the lender to set certain terms and conditions that may be used as a point of reference when disputes or misunderstandings arise.

What Constitutes a Loan Contract?

The Amount of Money Being Borrowed

A Loan Agreement has to provide details about how much money is being borrowed and if it will be given in a lump sum or through installments. The contract should also stipulate the requirements that the borrower has to submit for him to receive his cash advance.

Specify the Drawdown Date

The Drawdown Date generally refers to the date on which the amount being advanced or loaned is given by the lender to the borrower. Drawdown Dates usually differ according to the terms of the loan. Some lenders provide the advance all at once while others provide it through several installments.

Free Personal Loan Agreement Form

Printable Personal Loan Agreement Form

Purpose of the Loan

Loan Agreements will typically indicate the purpose for which the loan is being applied for. Common uses of a loan are for a mortgage, to pay an existing debt, or to purchase a car. The purpose of the loan is crucial to lenders because the assessment of its risk profile and the interest rate incurred will vary according to the purpose of the loan.

Conditions Precedent

Conditions Precedent refers to requirements or conditions that a borrower has to meet before he is able to obtain his principal or the loaned amount of money. The conditions given by lender in the agreement will typically depend on the purpose of the loan, the amount of money being loaned, and the risk potential of the loan being made.